Vijay Mallya discloses his wealth abroad; says assets around Rs 780 crore
Disclosing his overseas wealth details, Vijay Mallya told the Supreme Court on Thursday that his collective family assets abroad amounted to Rs 780 crore.
Zee Media Bureau
New Delhi: Disclosing his overseas wealth details, Vijay Mallya told the Supreme Court on Thursday that his collective family assets abroad amounted to Rs 780 crore.
The Economic Times reported that the business tycoon gave away the information to the country's top court in a sealed cover, and said that he didn't have to disclose details of these as he, including his family were non-resident Indians.
The report added that Mallya also said in an affidavit that no part of the overseas wealth had been acquired with loans made by banks to Kingfisher Airlines.
The businessman owes dues of Rs 9,000 crore to 17 banks who loaned funds to infuse into the Kingfisher Airlines, which ran into trouble and stopped flying in 2012.
The report added that "Mallya also dismissed another prayer for him to return to the country on the grounds that his passport had been suspended unilaterally and ex-parte by the Ministry of External Affairs without even issuing him a show-cause notice. The Enforcement Directorate had also obtained a non-bailable warrant against him in a "demonstrably false case," he said.
Mallya is reported to have said that Kingfisher airliners woes should be attributed to high aviation fuel prices and a credit squeeze by banks, and the state-run Air India, with higher liability to
banks, has faced no coercive measures to pay up dues.